Basically, if you lie on your mortgage loan application, you may be charged with the crime of mortgage fraud. Additionally, mortgage lenders may also be charged with mortgage fraud, such as forging a mortgage contract. If a mortgage lender commits mortgage fraud, the mortgage borrower may use the mortgage loan fraud as a legal defense to ...
Share Your Story with a Mortgage Lawyer. We offer free legal consultations for anyone who may need a mortgage lawyer to sue mortgage company. We diligently get a full timeline of events, collect and review all documents related to the case, and give free advice on how our clients should proceed. Call us today to speak with a mortgage litigation ...
Jun 13, 2017 · The type of lawyer that you should retain to sue on your set of facts would be a foreclosure lawyer, as they have the most experience dealing with lenders and mortgage servicing companies. You would probably be naming as Defendants both the mortgage servicing company, which is Nationstar, and the owner of the underlying promissory note, which at this …
Oct 26, 2012 · I want to sue my mortgage company, what kind of lawyer do I need? I have a lot of information, so I will give you the cliff notes verison. In 2007 we built a house, 2008 my wife lost her job, even though she found employment the salary was less so in 2009 we missed a payment.
If the loan contract was breached, the lender can be sued if it was the breaching party. The most common remedy pursued by borrowers when a breach of a loan agreement has occurred is the recovery of damages.
Take action if you think you've been discriminated against.Complain to the lender. ... Check with your state Attorney General's office to see if the creditor violated state laws: Many states have their own equal credit opportunity laws.Consider suing the lender in federal district court.More items...
The CFPB enforces several laws, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. These laws require lenders to disclose information to homebuyers before buying and over the life of the mortgage. File a complaint with the CFPB if you have a problem with a new or existing mortgage.Sep 7, 2021
The application states that knowingly making a false statement is punishable by a maximum of (1) five years' imprisonment and/or a $250,000 fine under 18 U.S.C. §1001 (making false statements) and 18 U.S.C.Apr 27, 2020
Examples of Lending Discrimination Providing a different customer service experience to mortgage applicants depending on their race, color, religion, sex (including gender, gender identity, sexual orientation, and sexual harassment), familial status, national origin or disability.
The Federal Trade Commission is authorized to enforce Regulation Z and TILA. Federal law also gives the Office of the Comptroller of the Currency the authority to order lenders to adjust and edit the accounts of consumers whose finance charges or annual percentage rate (APR) was inaccurately disclosed.Nov 13, 2020
The Real Estate Settlement Procedures Act (RESPA) provides consumers with improved disclosures of settlement costs and to reduce the costs of closing by the elimination of referral fees and kickbacks. RESPA was signed into law in December 1974, and became effective on June 20, 1975.
The FTC enforces laws that protect consumers from deceptive mortgage practices by certain kinds of lenders.
The rule forbids deceptive claims in mortgage advertising and other commercial communications sent to consumers by mortgage brokers, lenders, services, and advertising agencies. ... Mortgage lenders and advertisers found to be in violation of Regulation N can face civil penalties.
An underwriter generally wants to see that the funds in your bank accounts are yours, and not borrowed from someone else (unless via a properly–documented down payment gift). In other words, any funds used to qualify for the mortgage need to be “sourced and seasoned.”Feb 18, 2022